salin
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Sun Mar-09-08 01:43 PM
Response to Reply #45 |
| 48. Maybe they are going to try to sell houses (more modest) to |
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those who have to get out from their too big mortgages?
I have already seen a ReMax ad (realtor) featuring a guy "trying to get out from under his house". I would guess this will be the next wave. "Let us help you"... "just sign for this new loan for this smaller house..."
|
| -Can we stop blaming the sub-prime meltdown on the borrowers? |
salin |
Mar-09-08 11:33 AM |
#0 |
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I disagree. People have to take responsibility for their financial decisions |
Bandit |
Mar-09-08 11:37 AM |
#1 |
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Did you read the post? |
salin |
Mar-09-08 11:43 AM |
#2 |
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The whole housing fiasco was a scam designed by corporate financial insiders. |
AdHocSolver |
Mar-09-08 07:48 PM |
#96 |
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I felt the way that you felt until I started hearing some very troubling stories |
truedelphi |
Mar-09-08 02:23 PM |
#63 |
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He isn't. The Congress that controls the purse strings gave it to him. n/t |
AdHocSolver |
Mar-09-08 05:43 PM |
#87 |
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ah yes, Milton Friedman's social darwinism trumps empathy. |
Morereason |
Mar-09-08 10:52 PM |
#103 |
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It's Everyone Involved |
Crisco |
Mar-09-08 11:43 AM |
#3 |
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That middle point is the something "new" in the equation. |
salin |
Mar-09-08 11:49 AM |
#6 |
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your third point is FAR from Harsh - I'd say it's right on the money (no pun intended} |
Donnachaidh |
Mar-09-08 11:58 AM |
#13 |
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has this always been the case? Or has it gotten worse in recent times? |
salin |
Mar-09-08 12:04 PM |
#17 |
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"Flip This House" |
Crisco |
Mar-09-08 11:59 AM |
#14 |
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People try to make some insane money on that show.. |
Xenotime |
Mar-10-08 12:01 PM |
#132 |
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Housing is not immune to economics. If people won't pay X price, X price drops. |
BadgerLaw2010 |
Mar-09-08 12:26 PM |
#28 |
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But if people can pay 1.5X, rather than X because banks are willing to sell them "exotic" mortgages |
AP |
Mar-10-08 08:28 AM |
#122 |
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oh please |
selador |
Mar-09-08 04:49 PM |
#80 |
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While I don't question your point (it makes sense), |
salin |
Mar-09-08 04:57 PM |
#82 |
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thank you |
selador |
Mar-09-08 05:08 PM |
#83 |
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I agree... with one caveat |
salin |
Mar-09-08 05:24 PM |
#85 |
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yes |
selador |
Mar-09-08 05:50 PM |
#90 |
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Thanks for the link... |
salin |
Mar-09-08 05:57 PM |
#91 |
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thanks n/t |
selador |
Mar-09-08 06:09 PM |
#94 |
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I do't want to go back to the "good ol days" of the dark ages. Social darwinism was trumped for a |
Morereason |
Mar-09-08 11:01 PM |
#104 |
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Finally, Someone Makes Sense, Preditory Lenders and Borrowers Made This Mess |
we can do it |
Mar-09-08 01:06 PM |
#39 |
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Don't get me wrong (I don't favor any sort of "buyout") |
salin |
Mar-09-08 01:16 PM |
#40 |
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I Think We Bascially Agree, Then. |
we can do it |
Mar-09-08 05:47 PM |
#89 |
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I agree |
JVS |
Mar-10-08 07:25 AM |
#120 |
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This is such a non-issue |
Hydra |
Mar-09-08 11:44 AM |
#4 |
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You said it much more concisely than I |
salin |
Mar-09-08 11:51 AM |
#7 |
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Pfff |
Hydra |
Mar-09-08 12:03 PM |
#16 |
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Enron... Lay very carefully laid a plan |
salin |
Mar-09-08 12:08 PM |
#19 |
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You know more than I do about that |
Hydra |
Mar-09-08 12:13 PM |
#21 |
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Isn't that the basis - on a foreign policy front - for PNAC |
salin |
Mar-09-08 12:15 PM |
#23 |
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Pfff again |
Hydra |
Mar-09-08 12:29 PM |
#31 |
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Bingo! |
Karenina |
Mar-09-08 01:36 PM |
#44 |
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Hey - there is a LBN thread on one of the big banks calling for a systematic margin call |
salin |
Mar-09-08 01:41 PM |
#46 |
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The banks are just trying to shake each other out. |
Karenina |
Mar-09-08 02:02 PM |
#52 |
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I wonder how many corporate mergers - financed by billions in loans |
salin |
Mar-09-08 02:06 PM |
#53 |
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That's what I believe went down with Carlyle C.C. |
Karenina |
Mar-09-08 02:15 PM |
#59 |
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Indeed. Consider recent year mergers... |
salin |
Mar-09-08 02:20 PM |
#60 |
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And when they close up shop and re-setup down the street next week? |
Hydra |
Mar-09-08 02:11 PM |
#57 |
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Sub-prime borrowers are just pawns in this game. |
Karenina |
Mar-09-08 02:21 PM |
#62 |
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The purpose of invading Iraq was to STOP Iraqi oil production so as to limit world oil supply and... |
AdHocSolver |
Mar-09-08 06:23 PM |
#95 |
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I disagree |
Windex |
Mar-10-08 05:20 AM |
#116 |
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At some point we must realize that our government is of, by, and for the ruling class only. |
greyhound1966 |
Mar-09-08 02:40 PM |
#69 |
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Well said |
Hydra |
Mar-09-08 03:04 PM |
#74 |
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I would add the elite who run the ponzi schemes and milk them for Millions |
Morereason |
Mar-09-08 11:05 PM |
#105 |
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I agree |
gratuitous |
Mar-09-08 11:48 AM |
#5 |
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I don't know how insulated they (banks) really are... |
salin |
Mar-09-08 11:58 AM |
#11 |
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Compassion? Surely you jest. |
melody |
Mar-09-08 11:53 AM |
#8 |
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Peace to a like-minder |
salin |
Mar-09-08 12:00 PM |
#15 |
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Nothing is safe, but for most people, their FDIC insured banks probably are |
melody |
Mar-09-08 12:08 PM |
#18 |
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In my rational mind, |
salin |
Mar-09-08 12:13 PM |
#22 |
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A moderate amount each month is all you need |
melody |
Mar-09-08 12:18 PM |
#24 |
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You are right, of course, |
salin |
Mar-09-08 12:27 PM |
#29 |
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You are being too optimistic/Head of the FDIC testified on Tueday the 4th of March |
truedelphi |
Mar-09-08 02:28 PM |
#64 |
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Okay, then let's put a gun in our mouths and pull the trigger |
melody |
Mar-09-08 04:56 PM |
#81 |
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You might want to check on the article that appeared in the WSJ last week about the Fed |
greyhound1966 |
Mar-09-08 02:44 PM |
#70 |
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If not there, then where? |
salin |
Mar-09-08 03:10 PM |
#76 |
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Tangible assets IMO. Stuff that you can hold that has intrinsic value. |
greyhound1966 |
Mar-09-08 04:01 PM |
#79 |
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Blame the repeal of the Glass-Steagall Act |
Ichingcarpenter |
Mar-09-08 11:56 AM |
#9 |
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Fascinating (and troubling) read. |
salin |
Mar-09-08 12:21 PM |
#25 |
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No commentator ever asks about the repeal of the Glass-Stegal act |
Ichingcarpenter |
Mar-09-08 12:42 PM |
#34 |
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The words regulation and deregulation also never come up |
salin |
Mar-09-08 12:53 PM |
#36 |
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A MUST read! You will not see the real reason in the media (nor unfortunately in some posts here) |
Morereason |
Mar-09-08 11:10 PM |
#106 |
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Wow. Thanks for posting that link. |
rockymountaindem |
Mar-10-08 12:22 AM |
#113 |
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They blamed Katrina's casualties on the victims. Why not this? n/t |
live love laugh |
Mar-09-08 11:57 AM |
#10 |
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The blame for that is on * |
Xenotime |
Mar-10-08 12:03 PM |
#133 |
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The elephant in the room |
whosinpower |
Mar-09-08 11:58 AM |
#12 |
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It's actually more simple than that |
Hydra |
Mar-09-08 12:09 PM |
#20 |
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No, it's not that simple. |
BadgerLaw2010 |
Mar-09-08 12:29 PM |
#32 |
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Watch "Money as Debt" |
Hydra |
Mar-09-08 12:55 PM |
#37 |
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That video is idiocy. You think banks enjoy these enormous loan-loss provisions? |
BadgerLaw2010 |
Mar-09-08 01:57 PM |
#50 |
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Why in the world did they leave themselves so very risk exposed. |
salin |
Mar-09-08 01:58 PM |
#51 |
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Lots of reasons, but three big ones: |
BadgerLaw2010 |
Mar-09-08 02:12 PM |
#58 |
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interesting summary |
salin |
Mar-09-08 02:31 PM |
#66 |
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This ignores the fact that the whole hyper-inflation of real estate valuations |
greyhound1966 |
Mar-09-08 02:50 PM |
#72 |
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What's idiocity in that video? |
Hydra |
Mar-09-08 05:31 PM |
#86 |
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excellent point. |
salin |
Mar-09-08 12:28 PM |
#30 |
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If I could edit your post I'd put your last paragraph at the top. But you're right. |
Poll_Blind |
Mar-09-08 12:23 PM |
#26 |
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You MUST be kidding. ARMs are for IDIOTS. |
AlertLurker |
Mar-09-08 12:24 PM |
#27 |
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No where did I suggest congress should act on refi... |
salin |
Mar-09-08 12:38 PM |
#33 |
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Abdication of responsibility. |
AlertLurker |
Mar-09-08 01:41 PM |
#47 |
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Sure you can |
salin |
Mar-09-08 01:48 PM |
#49 |
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Another Milton Friedman/Social Darwinist? |
Morereason |
Mar-09-08 11:13 PM |
#107 |
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I would disagree that many of these individuals.. |
girl gone mad |
Mar-09-08 02:30 PM |
#65 |
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Where is everyone getting the "McMansion" philosophy? |
Morereason |
Mar-09-08 11:18 PM |
#108 |
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these would not be 'bad loans' if the borrowers upheld their end |
Lance_Boyle |
Mar-10-08 08:53 AM |
#124 |
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You know what? You'll get to look down your nose at us. |
JulieRB |
Mar-09-08 12:51 PM |
#35 |
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Countrywide being investigated, and others have already been shut down. |
salin |
Mar-09-08 12:55 PM |
#38 |
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salin, the poster I was responding to, according to her profile, |
JulieRB |
Mar-09-08 11:26 PM |
#110 |
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duly noted |
salin |
Mar-10-08 02:41 AM |
#114 |
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Deleted message |
Name removed |
Mar-10-08 07:22 AM |
#119 |
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Ahhh. The dulcet tones of Alert Lurker, eh? |
JulieRB |
Mar-10-08 11:40 AM |
#130 |
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I'm always cheered when one of the "little people" does well. |
AlertLurker |
Mar-09-08 01:31 PM |
#43 |
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Gosh. Color me surprised. |
JulieRB |
Mar-09-08 11:23 PM |
#109 |
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I thought I made a mistake once. It turned out that I was wrong. |
AlertLurker |
Mar-10-08 07:14 AM |
#118 |
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Still riding your preconceptions into the ground, I see |
JulieRB |
Mar-10-08 11:38 AM |
#129 |
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You are behaving like a whiney moron. |
AlertLurker |
Mar-12-08 07:02 AM |
#136 |
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Your motivation is completely ass-backward, but you got to the right conclusion. |
greyhound1966 |
Mar-09-08 02:54 PM |
#73 |
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Heads up: Name change - Nonprime and Specialty Lending |
flashl |
Mar-09-08 01:18 PM |
#41 |
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wish I could be a fly on that wall |
salin |
Mar-09-08 01:26 PM |
#42 |
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Don't know. Here we are thinking American consumers had bled out. nt |
flashl |
Mar-09-08 01:41 PM |
#45 |
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Maybe they are going to try to sell houses (more modest) to |
salin |
Mar-09-08 01:43 PM |
#48 |
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Large inventories exist, folks still with funds |
flashl |
Mar-09-08 02:10 PM |
#56 |
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I think values have to sink quite a bit more before folks |
salin |
Mar-09-08 02:21 PM |
#61 |
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SUBPRIME CRISIS ILLUSTRATED |
DireStrike |
Mar-09-08 02:08 PM |
#54 |
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Bingo! Good piece, thanks. n/t |
greyhound1966 |
Mar-09-08 03:15 PM |
#77 |
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That really needs it's own thread. |
Rosemary2205 |
Mar-09-08 08:30 PM |
#98 |
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I think you've hit on the real issue. This was all manufactured in order to artificially |
greyhound1966 |
Mar-09-08 02:09 PM |
#55 |
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I'm a Michigander, and I approve this post. |
knitter4democracy |
Mar-09-08 02:32 PM |
#67 |
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People just play by the rules set down for them |
NNN0LHI |
Mar-09-08 02:34 PM |
#68 |
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Several years ago a friend was looking at cars... and the salesperson |
salin |
Mar-09-08 02:46 PM |
#71 |
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The rules have not changed, it is called the 4-square method, and car sales |
greyhound1966 |
Mar-09-08 03:07 PM |
#75 |
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There's A Lot of Blame To Go Around |
TML |
Mar-09-08 03:32 PM |
#78 |
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There is plenty of blame to go around.. |
sendero |
Mar-09-08 05:17 PM |
#84 |
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Deleted message |
Name removed |
Mar-09-08 05:44 PM |
#88 |
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I am sorry to read that... |
salin |
Mar-09-08 06:05 PM |
#92 |
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Edweird, I'm so sorry |
JulieRB |
Mar-09-08 11:35 PM |
#111 |
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Deleted message |
Name removed |
Mar-10-08 08:49 AM |
#123 |
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The borrowers are partly at fault but blaming them is about the dumbest way to solve the problem |
Hippo_Tron |
Mar-09-08 06:08 PM |
#93 |
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Yes, please |
varelse |
Mar-09-08 08:26 PM |
#97 |
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I'm putting the blame about 60% on borrowers... |
YellowRubberDuckie |
Mar-09-08 08:46 PM |
#99 |
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For the individual loans i would agree, but in many cases |
salin |
Mar-09-08 09:02 PM |
#100 |
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I agree |
Skittles |
Mar-09-08 09:42 PM |
#101 |
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There is a lot of blame to go around but... |
Hangingon |
Mar-09-08 10:51 PM |
#102 |
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There are criminal investigations of the LENDERS underway for fraud... |
El Pinko |
Mar-09-08 11:55 PM |
#112 |
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Yes, buyers should be responsible but.. |
Windex |
Mar-10-08 05:07 AM |
#115 |
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I can point to 3 words that set off the bubble - No Down Payment |
Phoebe Loosinhouse |
Mar-10-08 05:52 AM |
#117 |
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I read a post here at DU where a DU'er buying a house said his lender |
AP |
Mar-10-08 08:23 AM |
#121 |
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Busy Work With Funny Money |
KharmaTrain |
Mar-10-08 09:10 AM |
#125 |
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Preditory lending reminds me of all the life insurance scams... |
WCGreen |
Mar-10-08 09:19 AM |
#126 |
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It would make more sense to stop trying to distill everything down to a single explanation |
slackmaster |
Mar-10-08 10:16 AM |
#127 |
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This crisis is where Greed met Stupidity, and we all lost |
MadHound |
Mar-10-08 10:40 AM |
#128 |
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Look, many of these people knew what their payments per month |
Mystery2Me |
Mar-10-08 11:48 AM |
#131 |
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the majority of people who are in trouble in this mess were |
xchrom |
Mar-10-08 01:44 PM |
#134 |
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Find the crooked lenders and assist |
Spoonman |
Mar-10-08 02:21 PM |
#135 |
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